The Dragons Den day was set out as a task to develop a business idea and pitch that idea at the end of the day. We had a choice to develop our own idea or use Brambell museum or Treborth Gradens as a starting point of a business, our group went with Treborth.
We then used many aspects of a business to brain storm idea and combine these as a group to decide on our business at Treborth Gardens.
Our main business ideas pooled together.
The plan was to use Treborth to make natural products for beauty, but allowing the public to come and sign up to classes where they are able to see this process and help make their own product.
Workshops would be set up as well as engaging local schools in natural and locally sources products. This new buisness would also allow university students to earn credits whilst helping with the classes.
In addition to this we had to create a 20 second advert for the business and this all culminated in the final ‘pitch’.
When it came to the pitch each person pulled their weight and contributed. However, some of the questions that were received from the ‘dragons’ were unbelievable – “have you considered____?, have you looked at pricing of _____?”. I know this excercise should be taken with a pinch of salt but in reality not 2 hours earlier there wasn’t even a business idea, let alone pricing.
After the pitches the results were anounced. Our group was voted the peoples choice but, we were not the dragons favourite.
The session was interesting to see how a business plan has to develop and can easily be used when writing about what a business plan is later this year. However, the whole ‘role play’ thing is not my cup of tea.
I feel that the business idea developed here should be used in the future to aim towards the business plan essay. This could have been the starting point for writing an actual short business plan instead of how knowing how to write a business plan is useful.
JAMES HADEN 